Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.086%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$273as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2732.728% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.135%+$13 · spread now −0.086%, 7d avg +0.071%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.157% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MEW_USDT	0.0004630	0.0100	pay 0.0050% / 4h	52m 38s	$135K	$121K	50x
Short	Bybit MEWUSDT	0.0004626	0.0100	get 0.0050% / 4h	52m 38s	$1.4M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee BybitbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → +0.071%: −$15.7
Slippage, 4 orders: −$246.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$288.49
Costs to cover: 2.728%
Break-even: never at this rate

Slippage from Gate: live order book, 63 min ago; Bybit: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 63 min ago	7.53 bp	107.9 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.48 bp	27.8 bp −$28	70.7 bp −$707	doesn't fit	doesn't fit

MEW on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004620	−0.216%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−8.877%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004627	−0.060%	$1.2M	$3.0M	50x	as long as short
Bybit MEWUSDTshort	+0.0100%	4h	0.0004626	−0.086%	$1.4M	$1.2M	25x
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004614	−0.346%	$519K	$762K	20x	as long as short
Gate MEW_USDTlong	+0.0100%	4h	0.0004630	long leg	$135K	$121K	50x
MEXC MEW_USDT	+0.0100%	4h	0.0004630	0.000%	$384K	$173K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004633	+0.065%	$342K	$118K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004630	0.000%	$494K	$370K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004630	0.000%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEW	+0.0100%	4h	0.0004636	+0.124%	$81K	$32K	—	as long as short
Kraken Futures PF_MEWUSD	+0.0965%	1h	0.0004635	+0.106%	$92K	$110K	10x	as long as short